1334 Wishon AveFresno, CA 93728

Property Details for 1334 Wishon Ave

Year built

1937

Construction

WOOD

Lot size

0.62 AC

Property size (Sq ft)

9,520 SF

Zone code

CMS

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

451-184-16

APU

45118416

Description

This exceptional 14-unit apartment building presents a compelling investment opportunity in Fresno, California. Located at 1334 N. Wishon Avenue, this property boasts a total of 9,520 square feet situated on a 27,000 square foot lot. The property comprises seven identical duplexes, each featuring one bedroom and one bathroom. Approximately half of the units include in-unit washer/dryer hookups. Built in 1937 and never before offered for sale, this property offers a unique chance to acquire a well-maintained asset with significant upside potential. The property is currently fully occupied with long-term tenants, generating a substantial net operating income (NOI) of $108,594, representing a 6.00% cap rate. The asking price is $1,960,000, or $140,000 per unit, and the property features 14 parking spaces. The convenient location offers proximity to Olive Avenue, the Tower District, and major freeways (41, 99, and 180). Zoned CMS, this property presents a rare opportunity for investors seeking a stable, high-yield investment with considerable potential for rent increases. The current rents are significantly below market value, offering substantial room for growth and increased profitability. This is a truly unique opportunity to acquire a fully leased, historically significant property with a proven track record of consistent income. The property's 680 square feet of net rentable space per unit and its strong location make it an attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,673,523

  6.5%

  $1,544,790

  7%

  $1,434,448

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,959,452

  Geo Method

  $4,115,596

• Alternative Use

  Use

  Valuation

  Residential

  $1,544,790

  Hospitality

  $1,415,020

  Educational

  $1,177,280

  Medical

  $1,217,768

  Retail

  $1,831,324

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7604

Longitude

-119.801

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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